Armstrong World Industries (AWI) Financials

$155.65 -3.85 (-2.42%)

Closing price 03:59 PM Eastern

Extended Trading

$155.75 +0.10 (+0.07%)

As of 04:20 PM Eastern

Annual Income Statements for Armstrong World Industries

This table shows Armstrong World Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	265	224	203	183	-99	215	121	120	105	94
Consolidated Net Income / (Loss)	265	224	203	183	-99	215	186	120	105	94
Net Income / (Loss) Continuing Operations	265	224	200	185	-84	242	190	221	99	58
Total Pre-Tax Income	347	298	258	243	-127	299	243	222	151	95
Total Operating Income	374	324	279	260	191	317	175	244	123	91
Total Gross Profit	582	497	449	406	333	395	334	315	307	306
Total Revenue	1,446	1,295	1,233	1,107	937	1,038	975	894	837	805
Operating Revenue	1,446	1,295	1,233	1,107	937	1,038	975	894	837	805
Total Cost of Revenue	864	798	784	701	604	643	642	578	530	499
Operating Cost of Revenue	864	798	784	701	604	643	642	578	530	499
Total Operating Expenses	207	173	170	146	142	78	159	72	184	215
Selling, General & Admin Expense	309	263	237	237	163	174	159	139	184	181
Other Operating Expenses / (Income)	-103	-89	-78	-88	-	-97	-	-67	-	-
Other Special Charges / (Income)	2.20	0.10	11	-4.10	0.10	0.00	0.00	-	-	-
Total Other Income / (Expense), net	-27	-25	-21	-17	-318	-18	3.20	-22	28	3.70
Interest Expense	40	35	27	23	24	38	39	35	50	45
Other Income / (Expense), net	13	-9.90	6.00	-5.60	-357	20	33	14	4.20	-18
Income Tax Expense	82	75	58	57	-43	57	53	1.50	51	37
Net Income / (Loss) Discontinued Operations	0.00	0.00	3.00	-2.10	-15	-28	-3.70	-101	5.40	36
Basic Earnings per Share	$6.06	$5.00	$4.38	$3.84	($2.07)	$4.40	$3.61	$2.23	$1.88	$1.69
Weighted Average Basic Shares Outstanding	43.70M	44.70M	46.30M	47.60M	47.90M	48.70M	51.30M	53.30M	55.40M	55.50M
Diluted Earnings per Share	$6.02	$4.99	$4.37	$3.82	($2.07)	$4.32	$3.56	$2.21	$1.87	$1.68
Weighted Average Diluted Shares Outstanding	44M	44.80M	46.40M	47.90M	47.90M	49.50M	52.10M	53.90M	55.70M	55.90M
Weighted Average Basic & Diluted Shares Outstanding	43.46M	43.81M	45.44M	47.08M	47.79M	48.80M	51.50M	53.60M	55.70M	55.70M
Cash Dividends to Common per Share	$1.15	$1.04	$0.95	$0.86	$0.81	$0.73	$0.18	-	-	-

This table shows Armstrong World Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	69	62	77	66	60	47	70	60	47	49	58
Consolidated Net Income / (Loss)	69	62	77	66	60	47	70	60	47	49	58
Net Income / (Loss) Continuing Operations	69	62	77	66	60	47	70	60	47	49	55
Total Pre-Tax Income	91	76	104	87	80	61	94	80	64	63	68
Total Operating Income	99	82	111	95	86	66	100	87	70	89	73
Total Gross Profit	150	144	164	149	124	120	141	124	112	112	118
Total Revenue	383	368	387	365	326	312	347	325	310	305	325
Operating Revenue	383	368	387	365	326	312	347	325	310	305	325
Total Cost of Revenue	233	224	223	216	202	193	206	201	198	193	208
Operating Cost of Revenue	233	224	223	216	202	193	206	201	198	193	208
Total Operating Expenses	51	62	52	54	38	53	41	37	42	23	44
Selling, General & Admin Expense	78	85	78	80	66	73	65	62	63	59	59
Other Operating Expenses / (Income)	-27	-25	-25	-26	-27	-20	-23	-25	-21	-	-22
Total Other Income / (Expense), net	-7.80	-5.90	-7.50	-7.90	-5.90	-5.60	-6.50	-7.00	-6.30	-26	-5.60
Interest Expense	8.50	9.20	11	11	9.00	8.60	8.80	9.20	8.70	9.20	7.00
Other Income / (Expense), net	0.70	16	3.00	-3.20	-3.10	-12	2.30	2.20	-2.40	7.50	-1.40
Income Tax Expense	22	14	27	21	20	14	24	20	17	15	13
Basic Earnings per Share	$1.59	$1.43	$1.76	$1.50	$1.37	$1.06	$1.56	$1.34	$1.04	$1.07	$1.25
Weighted Average Basic Shares Outstanding	43.50M	43.70M	43.70M	43.80M	43.80M	44.70M	44.50M	44.90M	45.40M	46.30M	46.10M
Diluted Earnings per Share	$1.58	$1.41	$1.75	$1.50	$1.36	$1.05	$1.56	$1.34	$1.04	$1.07	$1.25
Weighted Average Diluted Shares Outstanding	43.80M	44M	43.90M	44M	44.10M	44.80M	44.60M	45M	45.50M	46.40M	46.10M
Weighted Average Basic & Diluted Shares Outstanding	43.43M	43.46M	43.59M	43.70M	43.76M	43.81M	44.18M	44.72M	45.12M	45.44M	45.66M
Cash Dividends to Common per Share	$0.31	-	$0.28	$0.28	$0.28	-	$0.25	$0.25	$0.25	-	$0.23

This table details how cash moves in and out of Armstrong World Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	8.50	-35	7.90	-39	92	-290	184	14	-103	60
Net Cash From Operating Activities	267	234	182	187	219	183	203	170	49	204
Net Cash From Continuing Operating Activities	267	234	182	187	219	183	203	170	49	204
Net Income / (Loss) Continuing Operations	265	224	203	183	-99	215	186	120	105	94
Consolidated Net Income / (Loss)	265	224	203	183	-99	215	186	120	105	94
Depreciation Expense	103	89	84	97	84	72	79	89	89	118
Non-Cash Adjustments To Reconcile Net Income	-85	-76	-64	-75	307	-58	-65	48	-3.40	27
Changes in Operating Assets and Liabilities, net	-17	-3.50	-40	-18	-73	-46	2.90	-86	-141	-36
Net Cash From Investing Activities	-79	-10	28	-14	-141	-89	310	-54	-17	-102
Net Cash From Continuing Investing Activities	-79	-10	28	-14	-141	-89	310	-54	-17	-102
Purchase of Property, Plant & Equipment	-83	-84	-75	-80	-55	-71	-72	-90	-104	-171
Acquisitions	-129	0.00	-2.80	-0.70	-165	-56	-22	-31	-	-
Sale of Property, Plant & Equipment	24	0.00	0.00	0.10	22	0.00	0.00	-	-	-
Sale and/or Maturity of Investments	98	97	105	78	82	85	142	69	87	64
Other Investing Activities, net	10	3.00	1.30	-12	-24	-47	-68	-2.40	0.30	5.00
Net Cash From Financing Activities	-178	-259	-202	-212	14	-385	-329	-103	-129	-32
Net Cash From Continuing Financing Activities	-178	-259	-202	-212	14	-385	-329	-103	-129	-32
Repayment of Debt	-201	-120	-787	-180	-216	-898	-33	-129	-532	-40
Repurchase of Common Equity	-55	-132	-165	-80	-44	-131	-307	-80	-44	-
Payment of Dividends	-51	-47	-44	-41	-39	-36	-8.60	0.00	-	-1.20
Issuance of Debt	138	55	805	95	320	685	0.00	103	456	2.00
Other Financing Activities, net	-9.50	-15	-11	-5.70	-6.60	-4.70	18	3.30	-8.40	6.40
Effect of Exchange Rate Changes	-1.40	-	-0.80	0.00	0.40	0.90	-	-	-6.30	-10
Cash Interest Paid	37	34	27	22	24	33	30	31	33	39
Cash Income Taxes Paid	88	72	63	53	11	58	52	32	34	44

This table details how cash moves in and out of Armstrong World Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	3.50	5.60	0.10	4.00	-1.20	-26	-5.00	5.60	-10	19	7.50
Net Cash From Operating Activities	41	87	97	57	26	57	83	68	26	63	56
Net Cash From Continuing Operating Activities	41	87	97	57	26	57	83	68	26	63	56
Net Income / (Loss) Continuing Operations	69	62	77	66	60	47	70	60	47	49	58
Consolidated Net Income / (Loss)	69	62	77	66	60	47	70	60	47	49	58
Depreciation Expense	29	27	26	26	24	23	23	22	21	20	21
Non-Cash Adjustments To Reconcile Net Income	-22	-20	-20	-22	-23	-14	-20	-21	-22	-12	-19
Changes in Operating Assets and Liabilities, net	-35	17	13	-12	-35	0.40	9.90	6.20	-20	5.90	-4.30
Net Cash From Investing Activities	6.00	-18	20	-87	5.90	0.20	-4.60	-4.50	-1.50	20	9.70
Net Cash From Continuing Investing Activities	6.00	-18	20	-87	5.90	0.20	-4.60	-4.50	-1.50	20	9.70
Purchase of Property, Plant & Equipment	-19	-29	-19	-20	-15	-24	-19	-19	-22	-28	-19
Acquisitions	0.00	-124	-	-	-5.50	24	-14	-10	0.00	-2.80	-
Sale and/or Maturity of Investments	25	119	27	-71	23	25	28	24	21	50	28
Other Investing Activities, net	0.00	2.80	3.30	1.60	2.70	2.10	-	0.90	0.00	0.80	0.50
Net Cash From Financing Activities	-44	-62	-117	34	-33	-84	-83	-58	-35	-64	-57
Net Cash From Continuing Financing Activities	-44	-62	-117	34	-33	-84	-83	-58	-35	-64	-57
Repayment of Debt	-16	-31	-89	-51	-31	-60	-30	-20	-10	-708	-41
Repurchase of Common Equity	-22	-15	-15	-10	-15	-35	-40	-30	-27	-20	-60
Payment of Dividends	-13	-14	-12	-13	-12	-13	-11	-12	-12	-12	-11
Issuance of Debt	10	-	-	113	25	25	-	5.00	25	675	55
Other Financing Activities, net	-2.60	-2.80	-1.00	-5.50	-0.20	-1.00	-1.20	-1.40	-11	0.40	-0.60
Effect of Exchange Rate Changes	0.10	-1.00	0.20	-0.20	-0.40	-	-0.40	0.30	0.00	0.20	-0.90
Cash Interest Paid	7.80	8.60	9.80	11	8.50	8.00	8.60	8.90	8.40	9.90	6.70
Cash Income Taxes Paid	1.80	22	22	43	1.70	21	18	31	1.50	11	19

This table presents Armstrong World Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	1,843	1,672	1,687	1,710	1,719	1,493	1,838	1,874	1,758	2,687
Total Current Assets	349	313	357	322	312	244	718	649	406	881
Cash & Equivalents	79	71	106	98	137	45	326	160	142	209
Note & Lease Receivable	134	111	112	109	78	85	80	-	-	-
Inventories, net	110	104	110	90	82	69	61	54	47	101
Current Deferred & Refundable Income Taxes	3.90	0.80	1.80	1.40	2.30	30	1.70	31	22	41
Other Current Assets	22	26	26	23	13	16	4.80	7.90	11	34
Plant, Property, & Equipment, net	599	566	554	543	530	525	501	500	465	648
Total Noncurrent Assets	895	793	776	845	877	724	620	725	887	1,158
Long-Term Investments	27	17	24	50	41	59	41	107	106	131
Noncurrent Note & Lease Receivables	35	25	16	18	20	0.00	-	-	-	-
Goodwill	203	176	167	167	161	53	19	441	428	-
Intangible Assets	455	412	408	421	458	412	423	-	-	447
Employee Benefit Assets	88	85	83	109	120	95	53	88	49	8.30
Other Noncurrent Operating Assets	87	78	78	79	77	93	69	64	63	57
Total Liabilities & Shareholders' Equity	1,843	1,672	1,687	1,710	1,719	1,493	1,838	1,874	1,758	2,687
Total Liabilities	1,086	1,081	1,152	1,190	1,268	1,128	1,612	1,454	1,492	1,918
Total Current Liabilities	250	195	183	210	172	155	550	270	224	436
Short-Term Debt	23	23	0.00	25	25	6.30	55	33	25	52
Accounts Payable	215	160	173	175	137	144	383	108	117	231
Current Deferred & Payable Income Tax Liabilities	0.00	2.30	2.10	1.90	4.00	0.20	0.90	0.50	1.30	3.80
Other Current Liabilities	12	9.80	8.10	7.80	6.80	5.20	-	-	-	-
Total Noncurrent Liabilities	836	886	970	981	1,095	973	1,063	1,184	1,268	1,482
Long-Term Debt	503	564	651	606	691	605	765	818	849	936
Noncurrent Deferred Revenue	15	15	13	20	21	19	27	53	62	92
Noncurrent Deferred & Payable Income Tax Liabilities	167	167	169	167	158	164	124	142	154	107
Noncurrent Employee Benefit Liabilities	60	69	82	108	115	118	109	136	142	149
Other Noncurrent Operating Liabilities	91	71	54	79	110	68	38	36	27	43
Total Equity & Noncontrolling Interests	757	592	535	520	451	365	226	419	266	769
Total Preferred & Common Equity	757	592	535	520	451	365	226	419	266	769
Total Common Equity	757	592	535	520	451	365	226	419	266	769
Common Stock	605	592	574	562	554	556	548	517	506	1,152
Retained Earnings	1,561	1,347	1,170	1,011	870	1,008	830	633	470	365
Treasury Stock	-1,298	-1,242	-1,109	-944	-864	-824	-692	-386	-305	-261
Accumulated Other Comprehensive Income / (Loss)	-110	-105	-100	-110	-109	-376	-460	-346	-404	-487

This table presents Armstrong World Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,854	1,804	1,820	1,692	1,714	1,712	1,688	1,739
Total Current Assets	372	358	351	331	350	362	362	352
Cash & Equivalents	83	74	74	70	97	102	96	87
Note & Lease Receivable	151	131	136	125	117	117	122	119
Inventories, net	117	116	114	106	107	109	113	115
Current Deferred & Refundable Income Taxes	0.50	3.50	4.00	0.40	2.00	3.60	0.30	6.90
Other Current Assets	20	34	24	29	28	31	30	24
Plant, Property, & Equipment, net	596	577	599	560	559	559	560	541
Total Noncurrent Assets	887	869	870	801	805	791	766	846
Long-Term Investments	29	28	30	26	21	26	25	58
Noncurrent Note & Lease Receivables	34	26	27	28	26	18	16	17
Goodwill	210	195	194	175	175	167	167	167
Intangible Assets	440	439	443	409	414	412	405	409
Noncurrent Deferred & Refundable Income Taxes	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee Benefit Assets	90	89	88	86	88	87	85	113
Other Noncurrent Operating Assets	84	92	88	77	80	81	69	83
Total Liabilities & Shareholders' Equity	1,854	1,804	1,820	1,692	1,714	1,712	1,688	1,739
Total Liabilities	1,061	1,087	1,151	1,065	1,128	1,146	1,143	1,218
Total Current Liabilities	232	218	200	184	186	177	166	212
Short-Term Debt	23	23	23	23	17	11	5.60	25
Accounts Payable	179	180	163	131	150	148	137	179
Current Deferred & Payable Income Tax Liabilities	18	4.80	3.50	21	8.40	7.60	16	0.40
Other Current Liabilities	13	11	11	9.90	10	9.70	7.90	8.30
Total Noncurrent Liabilities	829	869	951	880	943	969	977	1,006
Long-Term Debt	497	533	622	559	605	640	661	658
Noncurrent Deferred Revenue	15	17	16	16	15	14	14	13
Noncurrent Deferred & Payable Income Tax Liabilities	165	166	165	166	170	168	168	175
Noncurrent Employee Benefit Liabilities	59	65	67	69	79	81	82	104
Other Noncurrent Operating Liabilities	93	88	82	71	74	66	52	56
Total Equity & Noncontrolling Interests	793	717	669	627	586	567	545	521
Total Preferred & Common Equity	793	717	669	627	586	567	545	521
Total Common Equity	793	717	669	627	586	567	545	521
Common Stock	608	601	596	596	585	581	578	570
Retained Earnings	1,616	1,512	1,448	1,394	1,312	1,254	1,206	1,133
Treasury Stock	-1,320	-1,283	-1,268	-1,258	-1,207	-1,167	-1,136	-1,089
Accumulated Other Comprehensive Income / (Loss)	-111	-113	-107	-106	-104	-102	-102	-93

This table displays calculated financial ratios and metrics derived from Armstrong World Industries' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.62%	5.04%	11.43%	18.11%	-9.75%	6.44%	9.14%	6.72%	4.00%	-37.80%
EBITDA Growth	21.61%	9.39%	4.99%	524.82%	-120.15%	43.12%	-17.39%	60.36%	12.96%	-26.01%
EBIT Growth	23.30%	10.22%	11.91%	252.70%	-149.32%	63.19%	-19.61%	102.76%	73.73%	-43.46%
NOPAT Growth	17.62%	12.29%	8.95%	48.63%	-48.00%	88.43%	-43.70%	199.07%	45.54%	-21.52%
Net Income Growth	18.36%	10.30%	10.75%	284.86%	-146.20%	15.38%	55.43%	14.23%	11.15%	47.65%
EPS Growth	20.64%	14.19%	14.40%	284.54%	-147.92%	21.35%	61.09%	18.18%	11.31%	47.65%
Operating Cash Flow Growth	14.26%	28.02%	-2.56%	-14.44%	19.76%	-10.09%	19.25%	245.64%	-75.80%	-2.44%
Free Cash Flow Firm Growth	-3.98%	27.95%	-11.28%	971.14%	124.61%	-116.76%	436.43%	-70.94%	-54.52%	208.17%
Invested Capital Growth	7.82%	3.24%	5.30%	1.49%	13.35%	59.89%	-33.90%	24.92%	-21.97%	-38.56%
Revenue Q/Q Growth	3.98%	0.61%	1.82%	4.12%	-0.87%	0.78%	2.59%	54.07%	52.71%	43.84%
EBITDA Q/Q Growth	5.97%	-6.24%	15.23%	21.00%	-203.51%	36.41%	-19.75%	30.24%	12.37%	5.63%
EBIT Q/Q Growth	6.53%	-8.73%	21.67%	31.61%	-11,006.67%	46.74%	-23.08%	39.79%	39.71%	16.03%
NOPAT Q/Q Growth	5.91%	-6.52%	12.15%	41.51%	-46.39%	55.12%	-45.68%	92.07%	15.24%	152.79%
Net Income Q/Q Growth	6.17%	-0.89%	3.52%	11.64%	-33.56%	6.50%	24.10%	-19.30%	64.11%	-9.77%
EPS Q/Q Growth	6.36%	-0.40%	4.55%	0.00%	0.00%	6.67%	20.68%	-21.07%	62.61%	-9.77%
Operating Cash Flow Q/Q Growth	12.43%	-2.55%	8.25%	-10.13%	4.34%	10.33%	-9.49%	8.67%	-13.66%	-15.72%
Free Cash Flow Firm Q/Q Growth	6.56%	-9.28%	21.21%	131.55%	-89.46%	35.31%	-38.13%	1,643.54%	-56.63%	285.23%
Invested Capital Q/Q Growth	0.39%	0.09%	-0.32%	0.17%	5.09%	2.08%	-6.10%	-17.67%	-24.18%	-40.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.23%	38.37%	36.42%	36.65%	35.55%	38.06%	34.19%	35.30%	36.67%	38.01%
EBITDA Margin	33.90%	31.11%	29.88%	31.71%	-8.82%	39.49%	29.37%	38.80%	25.82%	23.77%
Operating Margin	25.89%	24.99%	22.60%	23.50%	20.37%	30.58%	17.89%	27.28%	14.67%	11.29%
EBIT Margin	26.76%	24.23%	23.09%	22.99%	-17.78%	32.54%	21.22%	28.82%	15.17%	9.08%
Profit (Net Income) Margin	18.32%	17.28%	16.45%	16.56%	-10.58%	20.66%	19.06%	13.38%	12.50%	11.70%
Tax Burden Percent	76.32%	75.03%	78.77%	75.48%	78.22%	71.64%	76.60%	53.85%	69.52%	99.58%
Interest Burden Percent	89.71%	95.06%	90.48%	95.40%	76.05%	88.63%	117.25%	86.25%	118.58%	129.41%
Effective Tax Rate	23.68%	24.97%	22.40%	23.65%	0.00%	19.07%	21.88%	0.68%	34.06%	38.79%
Return on Invested Capital (ROIC)	25.21%	22.63%	21.01%	19.94%	14.36%	36.25%	19.90%	32.60%	10.75%	5.00%
ROIC Less NNEP Spread (ROIC-NNEP)	20.69%	18.89%	18.34%	16.94%	-30.19%	26.00%	33.57%	1.95%	20.81%	14.58%
Return on Net Nonoperating Assets (RNNOA)	14.07%	17.10%	17.47%	17.81%	-38.65%	36.35%	37.72%	2.28%	9.48%	8.28%
Return on Equity (ROE)	39.28%	39.72%	38.48%	37.75%	-24.30%	72.60%	57.62%	34.88%	20.23%	13.29%
Cash Return on Invested Capital (CROIC)	17.68%	19.44%	15.84%	18.46%	1.85%	-9.84%	60.72%	10.44%	35.42%	52.77%
Operating Return on Assets (OROA)	22.01%	18.68%	16.76%	14.84%	-10.37%	20.28%	11.15%	14.18%	5.71%	2.76%
Return on Assets (ROA)	15.07%	13.32%	11.95%	10.69%	-6.17%	12.88%	10.02%	6.59%	4.71%	3.56%
Return on Common Equity (ROCE)	39.28%	39.72%	38.48%	37.75%	-24.30%	72.60%	57.62%	34.88%	20.23%	13.29%
Return on Equity Simple (ROE_SIMPLE)	34.99%	37.82%	37.93%	35.25%	-21.98%	58.78%	82.26%	28.52%	39.30%	12.25%
Net Operating Profit after Tax (NOPAT)	286	243	216	199	134	257	136	242	81	56
NOPAT Margin	19.76%	18.75%	17.54%	17.94%	14.26%	24.74%	13.98%	27.10%	9.67%	6.91%
Net Nonoperating Expense Percent (NNEP)	4.53%	3.74%	2.66%	3.00%	44.55%	10.25%	-13.68%	30.65%	-10.07%	-9.57%
Return On Investment Capital (ROIC_SIMPLE)	22.28%	20.61%	18.23%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	59.77%	61.63%	63.58%	63.35%	64.45%	61.94%	65.81%	64.70%	63.33%	61.99%
SG&A Expenses to Revenue	21.34%	20.27%	19.22%	21.45%	17.42%	16.79%	16.30%	15.51%	22.00%	22.46%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.34%	13.38%	13.82%	13.16%	15.19%	7.48%	16.30%	8.01%	22.00%	26.72%
Earnings before Interest and Taxes (EBIT)	387	314	285	254	-167	338	207	258	127	73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	490	403	368	351	-83	410	286	347	216	191
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.14	7.27	5.72	10.27	7.58	11.86	12.53	7.16	8.13	3.09
Price to Tangible Book Value (P/TBV)	62.29	1,103.75	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.39
Price to Revenue (P/Rev)	4.26	3.32	2.48	4.82	3.65	4.17	2.90	3.36	2.59	2.95
Price to Earnings (P/E)	23.26	19.23	15.08	29.13	0.00	20.18	23.42	25.10	20.69	25.24
Dividend Yield	0.81%	1.07%	1.41%	0.77%	1.13%	1.01%	0.32%	0.00%	0.00%	0.00%
Earnings Yield	4.30%	5.20%	6.63%	3.43%	0.00%	4.96%	4.27%	3.98%	4.83%	3.96%
Enterprise Value to Invested Capital (EV/IC)	5.60	4.41	3.39	5.80	4.00	5.54	6.02	4.35	4.23	3.58
Enterprise Value to Revenue (EV/Rev)	4.55	3.71	2.90	5.26	4.22	4.66	3.37	4.01	3.33	3.76
Enterprise Value to EBITDA (EV/EBITDA)	13.42	11.92	9.72	16.59	0.00	11.79	11.47	10.34	12.91	15.81
Enterprise Value to EBIT (EV/EBIT)	17.00	15.31	12.58	22.88	0.00	14.31	15.87	13.93	21.98	41.39
Enterprise Value to NOPAT (EV/NOPAT)	23.03	19.78	16.56	29.32	29.61	18.82	24.10	14.81	34.48	54.38
Enterprise Value to Operating Cash Flow (EV/OCF)	24.66	20.57	19.64	31.09	18.08	26.46	16.17	21.04	56.63	14.85
Enterprise Value to Free Cash Flow (EV/FCFF)	32.84	23.02	21.96	31.67	230.48	0.00	7.90	46.24	10.46	5.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.69	0.99	1.22	1.21	1.59	1.67	3.63	2.03	3.28	1.29
Long-Term Debt to Equity	0.66	0.95	1.22	1.17	1.53	1.66	3.38	1.95	3.19	1.22
Financial Leverage	0.68	0.91	0.95	1.05	1.28	1.40	1.12	1.17	0.46	0.57
Leverage Ratio	2.61	2.98	3.22	3.53	3.94	5.64	5.75	5.30	4.29	3.73
Compound Leverage Factor	2.34	2.83	2.91	3.37	2.99	5.00	6.74	4.57	5.09	4.83
Debt to Total Capital	40.95%	49.79%	54.89%	54.85%	61.34%	62.60%	78.39%	66.97%	76.63%	56.25%
Short-Term Debt to Total Capital	1.75%	1.91%	0.00%	2.17%	2.14%	0.65%	5.26%	2.56%	2.19%	2.97%
Long-Term Debt to Total Capital	39.20%	47.88%	54.89%	52.68%	59.20%	61.96%	73.13%	64.41%	74.44%	53.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	59.05%	50.21%	45.11%	45.15%	38.66%	37.40%	21.61%	33.03%	23.37%	43.75%
Debt to EBITDA	1.07	1.46	1.77	1.80	-8.66	1.49	2.86	2.45	4.04	5.16
Net Debt to EBITDA	0.85	1.24	1.41	1.38	-6.51	1.24	1.58	1.68	2.89	3.39
Long-Term Debt to EBITDA	1.03	1.40	1.77	1.73	-8.36	1.47	2.67	2.36	3.93	4.89
Debt to NOPAT	1.84	2.42	3.01	3.18	5.36	2.38	6.01	3.51	10.79	17.76
Net Debt to NOPAT	1.47	2.05	2.41	2.43	4.02	1.97	3.33	2.41	7.73	11.65
Long-Term Debt to NOPAT	1.76	2.32	3.01	3.05	5.17	2.35	5.61	3.38	10.48	16.83
Altman Z-Score	6.13	5.00	3.98	4.74	2.65	4.76	2.70	2.89	2.08	1.52
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.61	1.95	1.54	1.81	1.57	1.31	2.40	1.81	2.02
Quick Ratio	0.86	0.93	1.20	0.99	1.25	0.84	0.74	0.93	0.90	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	200	209	163	184	17	-70	416	78	267	587
Operating Cash Flow to CapEx	456.07%	278.64%	243.85%	234.88%	649.26%	256.24%	282.61%	189.97%	47.31%	119.33%
Free Cash Flow to Firm to Interest Expense	5.03	5.91	6.02	8.03	0.71	-1.82	10.61	2.19	5.39	13.16
Operating Cash Flow to Interest Expense	6.70	6.61	6.73	8.17	9.08	4.76	5.18	4.81	1.00	4.57
Operating Cash Flow Less CapEx to Interest Expense	5.23	4.24	3.97	4.69	7.68	2.90	3.35	2.28	-1.11	0.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.77	0.73	0.65	0.58	0.62	0.53	0.49	0.38	0.30
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.95	9.67	5.20
Inventory Turnover	8.08	7.46	7.83	8.17	8.05	9.92	11.16	11.48	7.15	2.28
Fixed Asset Turnover	2.48	2.31	2.25	2.06	1.78	2.02	1.95	1.85	1.50	0.94
Accounts Payable Turnover	4.61	4.80	4.51	4.50	4.31	2.44	2.61	5.13	3.05	1.73
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30.55	37.73	70.16
Days Inventory Outstanding (DIO)	45.16	48.93	46.60	44.70	45.34	36.81	32.70	31.78	51.04	159.76
Days Payable Outstanding (DPO)	79.24	76.00	80.87	81.07	84.63	149.52	139.82	71.14	119.80	210.84
Cash Conversion Cycle (CCC)	-34.09	-27.07	-34.27	-36.37	-39.29	-112.71	-107.12	-8.81	-31.03	19.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,176	1,090	1,056	1,003	988	872	545	825	660	846
Invested Capital Turnover	1.28	1.21	1.20	1.11	1.01	1.47	1.42	1.20	1.11	0.72
Increase / (Decrease) in Invested Capital	85	34	53	15	116	327	-280	165	-186	-531
Enterprise Value (EV)	6,579	4,803	3,582	5,821	3,955	4,835	3,285	3,586	2,792	3,026
Market Capitalization	6,160	4,305	3,061	5,337	3,418	4,328	2,832	3,002	2,167	2,377
Book Value per Share	$17.37	$13.40	$11.72	$10.95	$9.42	$7.52	$4.41	$7.94	$4.83	$13.89
Tangible Book Value per Share	$2.27	$0.09	($0.88)	($1.45)	($3.50)	($2.06)	($4.21)	($0.41)	($2.92)	$5.81
Total Capital	1,282	1,179	1,186	1,151	1,166	976	1,046	1,270	1,140	1,757
Total Debt	525	587	651	631	716	611	820	850	874	988
Total Long-Term Debt	503	564	651	606	691	605	765	818	849	936
Net Debt	419	499	521	483	537	507	453	583	626	648
Capital Expenditures (CapEx)	59	84	75	80	34	71	72	90	104	171
Debt-free, Cash-free Net Working Capital (DFCFNWC)	42	70	68	39	28	50	-103	252	65	287
Debt-free Net Working Capital (DFNWC)	122	141	174	137	165	96	223	412	207	497
Net Working Capital (NWC)	99	119	174	112	140	89	168	379	182	445
Net Nonoperating Expense (NNE)	21	19	13	15	233	42	-50	123	-24	-39
Net Nonoperating Obligations (NNO)	419	499	521	483	537	507	319	406	394	78
Total Depreciation and Amortization (D&A)	103	89	84	97	84	72	79	89	89	118
Debt-free, Cash-free Net Working Capital to Revenue	2.93%	5.42%	5.50%	3.54%	2.95%	4.84%	-10.52%	28.19%	7.79%	35.69%
Debt-free Net Working Capital to Revenue	8.42%	10.89%	14.09%	12.41%	17.56%	9.20%	22.88%	46.05%	24.73%	61.68%
Net Working Capital to Revenue	6.86%	9.15%	14.09%	10.15%	14.89%	8.59%	17.24%	42.41%	21.75%	55.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.06	$5.00	$4.38	$3.84	($2.07)	$4.40	$3.61	$2.89	$1.88	$1.46
Adjusted Weighted Average Basic Shares Outstanding	43.70M	44.70M	46.30M	47.60M	47.90M	48.70M	51.30M	53.30M	55.40M	64.16M
Adjusted Diluted Earnings per Share	$6.02	$4.99	$4.37	$3.82	($2.07)	$4.32	$3.56	$2.86	$1.87	$1.45
Adjusted Weighted Average Diluted Shares Outstanding	44M	44.80M	46.40M	47.90M	47.90M	49.50M	52.10M	53.90M	55.70M	64.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.46M	43.81M	45.44M	47.08M	47.79M	47.99M	48.50M	53.11M	53.84M	64.04M
Normalized Net Operating Profit after Tax (NOPAT)	287	243	225	195	119	257	136	242	81	77
Normalized NOPAT Margin	19.88%	18.76%	18.23%	17.66%	12.69%	24.74%	13.98%	27.10%	9.67%	9.52%
Pre Tax Income Margin	24.01%	23.03%	20.89%	21.93%	-13.52%	28.84%	24.88%	24.85%	17.99%	11.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.72	8.89	10.51	11.11	-6.91	8.80	5.28	7.27	2.57	1.64
NOPAT to Interest Expense	7.18	6.88	7.98	8.67	5.54	6.69	3.48	6.84	1.64	1.25
EBIT Less CapEx to Interest Expense	8.25	6.52	7.75	7.63	-8.31	6.94	3.45	4.74	0.46	-2.19
NOPAT Less CapEx to Interest Expense	5.71	4.51	5.22	5.19	4.14	4.83	1.64	4.31	-0.47	-2.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.10%	20.96%	21.78%	22.60%	-39.56%	16.60%	4.63%	0.00%	0.00%	1.27%
Augmented Payout Ratio	39.86%	79.94%	103.11%	66.27%	-84.36%	77.81%	169.55%	67.22%	41.83%	1.27%

This table displays calculated financial ratios and metrics derived from Armstrong World Industries' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.28%	17.74%	11.32%	12.20%	5.19%	2.56%	6.86%	1.37%	9.77%	7.79%	11.23%
EBITDA Growth	13.22%	61.00%	12.14%	5.30%	20.97%	-33.30%	34.19%	22.28%	31.41%	71.83%	-3.32%
EBIT Growth	11.21%	80.11%	11.51%	2.91%	22.42%	-43.61%	42.56%	27.07%	46.44%	111.18%	-2.18%
NOPAT Growth	16.69%	31.13%	10.95%	9.79%	23.75%	-25.33%	25.95%	17.71%	54.49%	51.02%	8.59%
Net Income Growth	15.36%	32.91%	10.65%	9.47%	26.64%	-4.10%	20.87%	15.33%	6.53%	16.47%	13.19%
EPS Growth	16.18%	34.29%	12.18%	11.94%	30.77%	-1.87%	24.80%	20.72%	10.64%	21.59%	17.92%
Operating Cash Flow Growth	55.30%	51.66%	16.97%	-15.36%	0.76%	-9.65%	47.06%	45.91%	56.89%	28.19%	0.18%
Free Cash Flow Firm Growth	-132.99%	-208.00%	-98.30%	-264.25%	621.54%	10.87%	6,187.21%	209.91%	29.25%	-50.18%	110.80%
Invested Capital Growth	8.00%	7.82%	7.50%	10.89%	2.02%	3.24%	2.81%	3.50%	4.41%	5.30%	5.82%
Revenue Q/Q Growth	4.08%	-4.89%	5.89%	11.89%	4.48%	-10.08%	6.73%	4.90%	1.87%	-6.31%	1.25%
EBITDA Q/Q Growth	2.72%	-10.90%	19.69%	9.32%	5.09%	-37.94%	12.39%	25.59%	-15.12%	24.87%	2.41%
EBIT Q/Q Growth	1.43%	-14.44%	24.51%	10.60%	5.46%	-47.02%	14.91%	31.56%	-19.57%	33.94%	2.42%
NOPAT Q/Q Growth	11.96%	-18.71%	14.72%	11.77%	25.80%	-31.22%	13.52%	25.99%	-24.10%	16.02%	6.10%
Net Income Q/Q Growth	11.09%	-19.12%	16.69%	10.02%	27.99%	-32.66%	15.45%	27.27%	-3.07%	-15.13%	10.15%
EPS Q/Q Growth	12.06%	-19.43%	16.67%	10.29%	29.52%	-32.69%	16.42%	28.85%	-2.80%	-14.40%	12.61%
Operating Cash Flow Q/Q Growth	-52.66%	-10.26%	68.41%	117.05%	-53.77%	-30.79%	21.86%	158.40%	-58.54%	12.66%	20.91%
Free Cash Flow Firm Q/Q Growth	23.61%	-2,515.70%	101.61%	-210.91%	150.07%	-62.00%	55.85%	387.22%	-61.57%	2,054.82%	-92.32%
Invested Capital Q/Q Growth	2.19%	0.39%	-3.20%	8.76%	2.02%	0.09%	-0.15%	0.06%	3.24%	-0.32%	0.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.17%	39.14%	42.45%	40.89%	38.09%	38.26%	40.71%	38.11%	36.14%	36.62%	36.15%
EBITDA Margin	33.58%	34.02%	36.32%	32.13%	32.88%	24.88%	36.05%	34.23%	28.59%	38.26%	28.71%
Operating Margin	25.74%	22.27%	28.79%	26.02%	26.39%	21.23%	28.85%	26.74%	22.63%	29.16%	22.55%
EBIT Margin	25.92%	26.60%	29.57%	25.14%	25.44%	17.39%	29.51%	27.41%	21.86%	31.63%	22.12%
Profit (Net Income) Margin	18.06%	16.92%	19.89%	18.05%	18.36%	14.99%	20.01%	18.50%	15.25%	16.03%	17.69%
Tax Burden Percent	76.19%	81.84%	74.08%	75.66%	74.69%	77.10%	74.17%	75.25%	74.02%	77.09%	84.93%
Interest Burden Percent	91.43%	77.71%	90.81%	94.88%	96.63%	111.79%	91.41%	89.69%	94.25%	65.73%	94.16%
Effective Tax Rate	23.81%	18.16%	25.92%	24.34%	25.31%	22.90%	25.83%	24.75%	25.98%	22.91%	19.50%
Return on Invested Capital (ROIC)	25.46%	23.26%	26.24%	23.12%	23.46%	19.75%	25.64%	23.73%	19.79%	26.93%	21.34%
ROIC Less NNEP Spread (ROIC-NNEP)	24.13%	22.21%	25.08%	22.00%	22.61%	18.91%	24.71%	22.73%	18.90%	23.01%	21.04%
Return on Net Nonoperating Assets (RNNOA)	15.18%	15.10%	18.44%	18.96%	19.90%	17.11%	23.28%	21.82%	18.37%	21.92%	20.52%
Return on Equity (ROE)	40.64%	38.36%	44.68%	42.08%	43.36%	36.86%	48.92%	45.55%	38.16%	48.84%	41.86%
Cash Return on Invested Capital (CROIC)	17.93%	17.68%	16.64%	12.41%	21.17%	19.44%	21.40%	19.39%	17.71%	15.84%	13.06%
Operating Return on Assets (OROA)	21.96%	21.88%	23.37%	19.23%	19.74%	13.41%	22.01%	20.13%	16.23%	22.96%	15.56%
Return on Assets (ROA)	15.30%	13.91%	15.72%	13.81%	14.25%	11.55%	14.92%	13.58%	11.32%	11.63%	12.44%
Return on Common Equity (ROCE)	40.64%	38.36%	44.68%	42.08%	43.36%	36.86%	48.92%	45.55%	38.16%	48.84%	41.86%
Return on Equity Simple (ROE_SIMPLE)	34.55%	0.00%	34.80%	36.19%	37.72%	0.00%	38.57%	37.73%	37.78%	0.00%	37.61%
Net Operating Profit after Tax (NOPAT)	75	67	82	72	64	51	74	65	52	68	59
NOPAT Margin	19.61%	18.23%	21.33%	19.69%	19.71%	16.37%	21.40%	20.12%	16.75%	22.48%	18.16%
Net Nonoperating Expense Percent (NNEP)	1.33%	1.05%	1.16%	1.12%	0.85%	0.85%	0.93%	1.00%	0.89%	3.91%	0.30%
Return On Investment Capital (ROIC_SIMPLE)	5.71%	5.23%	-	-	-	4.34%	-	-	-	5.77%	-
Cost of Revenue to Revenue	60.83%	60.86%	57.55%	59.11%	61.91%	61.74%	59.29%	61.89%	63.86%	63.38%	63.85%
SG&A Expenses to Revenue	20.38%	23.20%	20.07%	21.88%	20.13%	23.47%	18.60%	19.02%	20.21%	19.41%	18.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.43%	16.97%	13.55%	14.87%	11.71%	17.03%	11.86%	11.37%	13.51%	7.45%	13.60%
Earnings before Interest and Taxes (EBIT)	99	98	114	92	83	54	103	89	68	96	72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	129	125	140	117	107	78	125	111	89	117	93
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.72	8.14	8.01	7.39	8.71	7.27	5.44	5.77	5.84	5.72	6.88
Price to Tangible Book Value (P/TBV)	42.79	62.29	68.87	155.46	127.32	1,103.75	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.08	4.26	4.13	3.66	4.17	3.32	2.47	2.58	2.52	2.48	2.96
Price to Earnings (P/E)	22.34	23.26	23.02	20.42	23.10	19.23	14.11	15.29	15.45	15.08	18.30
Dividend Yield	0.83%	0.81%	0.85%	0.97%	0.86%	1.07%	1.43%	1.37%	1.39%	1.41%	1.20%
Earnings Yield	4.48%	4.30%	4.34%	4.90%	4.33%	5.20%	7.09%	6.54%	6.47%	6.63%	5.46%
Enterprise Value to Invested Capital (EV/IC)	5.44	5.60	5.29	4.53	5.35	4.41	3.39	3.48	3.42	3.39	3.89
Enterprise Value to Revenue (EV/Rev)	4.35	4.55	4.46	4.06	4.54	3.71	2.87	3.00	2.96	2.90	3.41
Enterprise Value to EBITDA (EV/EBITDA)	12.93	13.42	13.40	12.26	13.47	11.92	8.58	9.53	9.87	9.72	12.90
Enterprise Value to EBIT (EV/EBIT)	16.46	17.00	17.06	15.61	17.05	15.31	10.73	12.11	12.66	12.58	17.63
Enterprise Value to NOPAT (EV/NOPAT)	22.03	23.03	22.98	20.97	23.31	19.78	14.20	15.49	15.84	16.56	21.39
Enterprise Value to Operating Cash Flow (EV/OCF)	23.21	24.66	26.12	24.56	25.45	20.57	15.40	17.79	19.41	19.64	24.48
Enterprise Value to Free Cash Flow (EV/FCFF)	31.49	32.84	32.96	38.41	25.51	23.02	16.04	18.24	19.71	21.96	30.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.69	0.77	0.96	0.93	0.99	1.06	1.15	1.22	1.22	1.31
Long-Term Debt to Equity	0.63	0.66	0.74	0.93	0.89	0.95	1.03	1.13	1.21	1.22	1.26
Financial Leverage	0.63	0.68	0.74	0.86	0.88	0.91	0.94	0.96	0.97	0.95	0.98
Leverage Ratio	2.50	2.61	2.70	2.86	2.88	2.98	3.12	3.15	3.14	3.22	3.30
Compound Leverage Factor	2.28	2.03	2.45	2.71	2.79	3.33	2.85	2.82	2.96	2.12	3.11
Debt to Total Capital	39.58%	40.95%	43.66%	49.05%	48.12%	49.79%	51.50%	53.48%	55.01%	54.89%	56.73%
Short-Term Debt to Total Capital	1.71%	1.75%	1.77%	1.71%	1.86%	1.91%	1.40%	0.93%	0.46%	0.00%	2.08%
Long-Term Debt to Total Capital	37.86%	39.20%	41.89%	47.33%	46.26%	47.88%	50.10%	52.55%	54.55%	54.89%	54.65%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	60.42%	59.05%	56.34%	50.95%	51.88%	50.21%	48.50%	46.52%	44.99%	45.11%	43.27%
Debt to EBITDA	1.03	1.07	1.20	1.44	1.32	1.46	1.45	1.64	1.76	1.77	2.14
Net Debt to EBITDA	0.81	0.85	0.98	1.21	1.10	1.24	1.17	1.32	1.44	1.41	1.68
Long-Term Debt to EBITDA	0.98	1.03	1.15	1.39	1.27	1.40	1.41	1.61	1.75	1.77	2.06
Debt to NOPAT	1.75	1.84	2.06	2.46	2.28	2.42	2.39	2.66	2.83	3.01	3.54
Net Debt to NOPAT	1.38	1.47	1.68	2.07	1.90	2.05	1.94	2.14	2.32	2.41	2.79
Long-Term Debt to NOPAT	1.68	1.76	1.98	2.38	2.19	2.32	2.33	2.61	2.81	3.01	3.41
Altman Z-Score	5.76	5.61	5.42	4.70	5.27	4.48	3.83	3.78	3.69	3.61	3.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.60	1.40	1.64	1.76	1.79	1.61	1.88	2.05	2.18	1.95	1.66
Quick Ratio	1.01	0.86	0.94	1.05	1.06	0.93	1.15	1.24	1.31	1.20	0.97
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-14	-18	0.76	-47	42	17	45	29	5.86	15	0.71
Operating Cash Flow to CapEx	214.66%	541.25%	965.00%	287.94%	179.59%	240.93%	443.55%	352.60%	117.49%	223.32%	301.61%
Free Cash Flow to Firm to Interest Expense	-1.64	-1.99	0.07	-4.23	4.70	1.97	5.06	3.11	0.67	1.66	0.10
Operating Cash Flow to Interest Expense	4.82	9.41	9.19	5.16	2.93	6.64	9.38	7.36	3.01	6.87	8.01
Operating Cash Flow Less CapEx to Interest Expense	2.58	7.67	8.24	3.37	1.30	3.88	7.26	5.27	0.45	3.79	5.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.82	0.79	0.76	0.78	0.77	0.75	0.73	0.74	0.73	0.70
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	8.01	8.08	7.47	7.33	7.30	7.46	7.18	7.34	7.38	7.83	7.53
Fixed Asset Turnover	2.60	2.48	2.45	2.33	2.34	2.31	2.34	2.30	2.29	2.25	2.27
Accounts Payable Turnover	5.78	4.61	5.05	5.25	5.98	4.80	4.85	4.99	5.67	4.51	4.60
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	45.58	45.16	48.89	49.82	50.01	48.93	50.81	49.71	49.47	46.60	48.45
Days Payable Outstanding (DPO)	63.18	79.24	72.31	69.56	61.07	76.00	75.20	73.21	64.35	80.87	79.41
Cash Conversion Cycle (CCC)	-17.60	-34.09	-23.42	-19.74	-11.06	-27.07	-24.39	-23.50	-14.89	-34.27	-30.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,201	1,176	1,171	1,210	1,112	1,090	1,089	1,091	1,090	1,056	1,060
Invested Capital Turnover	1.30	1.28	1.23	1.17	1.19	1.21	1.20	1.18	1.18	1.20	1.18
Increase / (Decrease) in Invested Capital	89	85	82	119	22	34	30	37	46	53	58
Enterprise Value (EV)	6,531	6,579	6,198	5,484	5,948	4,803	3,689	3,793	3,725	3,582	4,125
Market Capitalization	6,123	6,160	5,743	4,943	5,462	4,305	3,185	3,268	3,180	3,061	3,587
Book Value per Share	$18.25	$17.37	$16.41	$15.29	$14.31	$13.40	$13.09	$12.56	$11.99	$11.72	$11.24
Tangible Book Value per Share	$3.29	$2.27	$1.91	$0.73	$0.98	$0.09	($0.07)	($0.29)	($0.60)	($0.88)	($1.17)
Total Capital	1,313	1,282	1,273	1,313	1,208	1,179	1,207	1,218	1,211	1,186	1,205
Total Debt	520	525	556	644	581	587	622	652	666	651	683
Total Long-Term Debt	497	503	533	622	559	564	605	640	661	651	658
Net Debt	408	419	454	541	486	499	504	524	546	521	538
Capital Expenditures (CapEx)	19	16	10	20	15	24	19	19	22	28	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	80	42	88	100	99	70	85	95	105	68	78
Debt-free Net Working Capital (DFNWC)	162	122	162	174	169	141	181	197	201	174	164
Net Working Capital (NWC)	140	99	139	151	146	119	164	185	196	174	139
Net Nonoperating Expense (NNE)	5.94	4.83	5.56	5.98	4.41	4.32	4.82	5.27	4.66	20	1.51
Net Nonoperating Obligations (NNO)	408	419	454	541	486	499	504	524	546	521	538
Total Depreciation and Amortization (D&A)	29	27	26	26	24	23	23	22	21	20	21
Debt-free, Cash-free Net Working Capital to Revenue	5.30%	2.93%	6.34%	7.41%	7.57%	5.42%	6.57%	7.50%	8.35%	5.50%	6.41%
Debt-free Net Working Capital to Revenue	10.81%	8.42%	11.64%	12.86%	12.87%	10.89%	14.07%	15.53%	15.97%	14.09%	13.57%
Net Working Capital to Revenue	9.31%	6.86%	10.02%	11.19%	11.16%	9.15%	12.76%	14.64%	15.52%	14.09%	11.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.59	$1.43	$1.76	$1.50	$1.37	$1.06	$1.56	$1.34	$1.04	$1.07	$1.25
Adjusted Weighted Average Basic Shares Outstanding	43.50M	43.70M	43.70M	43.80M	43.80M	44.70M	44.50M	44.90M	45.40M	46.30M	46.10M
Adjusted Diluted Earnings per Share	$1.58	$1.41	$1.75	$1.50	$1.36	$1.05	$1.56	$1.34	$1.04	$1.07	$1.25
Adjusted Weighted Average Diluted Shares Outstanding	43.80M	44M	43.90M	44M	44.10M	44.80M	44.60M	45M	45.50M	46.40M	46.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.43M	43.46M	43.59M	43.70M	43.76M	43.81M	44.18M	44.72M	45.12M	45.44M	45.66M
Normalized Net Operating Profit after Tax (NOPAT)	75	68	82	72	64	51	74	65	52	67	65
Normalized NOPAT Margin	19.61%	18.59%	21.33%	19.83%	19.64%	16.39%	21.40%	20.12%	16.75%	21.90%	19.92%
Pre Tax Income Margin	23.70%	20.67%	26.85%	23.86%	24.58%	19.44%	26.98%	24.59%	20.60%	20.79%	20.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.67	10.63	10.89	8.27	9.22	6.31	11.65	9.70	7.79	10.47	10.27
NOPAT to Interest Expense	8.83	7.29	7.85	6.48	7.15	5.94	8.45	7.12	5.97	7.44	8.43
EBIT Less CapEx to Interest Expense	9.42	8.89	9.93	6.48	7.59	3.56	9.53	7.61	5.23	7.39	7.61
NOPAT Less CapEx to Interest Expense	6.58	5.55	6.90	4.68	5.51	3.19	6.33	5.03	3.41	4.37	5.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	18.86%	19.10%	19.88%	20.12%	20.14%	20.96%	20.37%	21.19%	21.82%	21.78%	22.24%
Augmented Payout Ratio	41.48%	39.86%	49.94%	61.42%	70.90%	79.94%	72.19%	85.27%	100.53%	103.11%	111.53%

Frequently Asked Questions About Armstrong World Industries' Financials

When does Armstrong World Industries's fiscal year end?

According to the most recent income statement we have on file, Armstrong World Industries' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Armstrong World Industries' net income changed over the last 9 years?

Armstrong World Industries' net income appears to be on an upward trend, with a most recent value of $264.90 million in 2024, rising from $94.20 million in 2015. The previous period was $223.80 million in 2023. View Armstrong World Industries' forecast to see where analysts expect Armstrong World Industries to go next.

What is Armstrong World Industries's operating income?

Armstrong World Industries's total operating income in 2024 was $374.30 million, based on the following breakdown:

Total Gross Profit: $581.60 million
Total Operating Expenses: $207.30 million

How has Armstrong World Industries revenue changed over the last 9 years?

Over the last 9 years, Armstrong World Industries' total revenue changed from $805.10 million in 2015 to $1.45 billion in 2024, a change of 79.6%.

How much debt does Armstrong World Industries have?

Armstrong World Industries' total liabilities were at $1.09 billion at the end of 2024, a 0.5% increase from 2023, and a 43.4% decrease since 2015.

How much cash does Armstrong World Industries have?

In the past 9 years, Armstrong World Industries' cash and equivalents has ranged from $45.30 million in 2019 to $325.70 million in 2018, and is currently $79.30 million as of their latest financial filing in 2024.

How has Armstrong World Industries' book value per share changed over the last 9 years?

Over the last 9 years, Armstrong World Industries' book value per share changed from 13.89 in 2015 to 17.37 in 2024, a change of 25.1%.

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This page (NYSE:AWI) was last updated on 5/21/2025 by MarketBeat.com Staff

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Armstrong World Industries (AWI) Financials

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Armstrong World Industries (AWI) Financials

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